UPDATE 1-Apple supplier Japan Display forecasts 5th straight year of losses [Reuters]
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Source: Reuters
Apple supplier Japan Display forecasts 5th straight year of losses | Reuters 2 Min Read TOKYO (Reuters) - Japan Display Inc said it expects to post its fifth straight year of net losses, with a late shift to organic light-emitting diode (OLED) screens and slowing iPhone sales costing it orders from Apple Inc, its biggest client. The liquid crystal display (LCD) maker for smartphones, which gets more than half of its revenue from Apple, reversed its forecast for a profit for the year ending in March after reporting on Thursday a net loss of 1.3 billion yen for the October-December quarter. The quarterly loss compares with the 17 billion yen average profit estimate of three analysts, according to Refinitiv data. For the full year, nine analysts had on average estimated a profit of 8.1 billion yen, the data showed. The losses are making the company desperate for fresh cash, as previous, publicly funded bailouts have failed to help the company reduce its dependence on Apple or to accelera
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